Kentucky Revenue Forecasters Release New Figures

From Kentucky Public Radio’s Tony McVeigh Kentucky still faces serious budget deficits, but the red ink may not be as bad as previously thought. Six economists who advise Gov. Beshear and legislative leaders are revising upward their October revenue estimates. Consensus Forecasting Group Chairman Larry Lynch says the economy’s picking up, but he’d still like […]

New Kentucky Revenue Estimates To Be Announced

From Kentucky Public Radio’s Tony McVeigh Revised revenue estimates on which Kentucky leaders will base the next state budget will be announced this afternoon. This will be the last meeting of the Consensus Forecasting Group before the 2010 General Assembly convenes next month. The panel of economic experts is already predicting a revenue shortfall of […]

November Tax Receipts Up In Kentucky

From Kentucky Public Radio’s Tony McVeigh Tax receipts in Kentucky were up last month, but no one in Frankfort is clicking their heels just yet. The state collected $722 million in November, compared to $705 million last year. The 2.4% increase is the first positive growth in state revenue receipts in 11 months. Areas showing […]

Kentucky Economic Forecasters Slightly More Optimistic

From Kentucky Public Radio’s Tony McVeigh The economic experts who advise Kentucky Gov. Steve Beshear and legislative leaders appear slightly more optimistic than they were two months ago. The Consensus Forecasting Group met in Frankfort to assess the latest economic indicators, and Chairman Larry Lynch says they found some encouraging signs. “The sentiment of the […]

Beshear Preparing For More Budget Cuts

From Kentucky Public Radio’s Tony McVeigh Kentucky Gov. Steve Beshear is making plans for another round of state budget cuts.  Monday was the deadline for state agencies to tell Beshear how they intend to cope with another six-percent reduction in spending.  But first, Beshear wants to hear from the Consensus Forecasting Group, a panel of […]

Forecasters: Kentucky Budget Deficit Growing

From Kentucky Public Radio’s Tony McVeigh Kentucky’s projected budget deficit for the current fiscal year just got bigger. Gov. Steve Beshear has been looking for ways to trim around $80 million from the state budget this fiscal year, but now it looks like he may have to double that. The Consensus Forecasting Group, chaired by […]

Kentucky Revenues Continue To Slide

From Kentucky Public Radio’s Tony McVeigh If, as many financial experts believe, a national economic recovery is getting underway, it apparently hasn’t reached Kentucky. Revenue collections in the commonwealth continue to spiral downward. Total state revenue collections for September were off almost 10%, falling from $804 million last September to $725 million this year. Tax […]

Consensus Forecasting Group Continues Cautious Approach

From Kentucky Public Radio’s Tony McVeigh A panel of experts that advises Kentucky’s governor and legislative leaders on economic matters is continuing to take a cautious approach. Nationally, the recession appears to have bottomed out in June, retail sales are up, gas prices are relatively stable, but credit markets remain tight and employment is not […]

State Revenue Forecasters Predict Further Decline

From Kentucky Public Radio’s Tony McVeigh Economic experts who advise Kentucky lawmakers and the governor are revising downward this fiscal year’s state revenue estimates. The Consensus Forecasting Group now projects state revenue collections this fiscal year will be 82-million dollars less than predicted in May. Group Chairman Larry Lynch says the national economy may be […]